Versor Investments LP Sells 121,254 Shares of Snap Inc. (NYSE:SNAP)

Versor Investments LP lessened its holdings in Snap Inc. (NYSE:SNAP) by 85.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 21,200 shares of the company’s stock after selling 121,254 shares during the quarter. Versor Investments LP’s holdings in Snap were worth $352,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its stake in Snap by 12.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock worth $683,000 after acquiring an additional 4,307 shares during the last quarter. Carmignac Gestion bought a new position in shares of Snap in the fourth quarter worth approximately $110,103,000. TCW Group Inc. purchased a new stake in Snap in the fourth quarter valued at approximately $275,000. V Square Quantitative Management LLC lifted its position in Snap by 72.7% during the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock valued at $188,000 after purchasing an additional 4,679 shares during the last quarter. Finally, Alta Park Capital LP purchased a new position in Snap in the 4th quarter worth approximately $13,845,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

Shares of SNAP stock opened at $8.89 on Friday. The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of -10.98 and a beta of 1.00. The stock has a fifty day moving average of $12.11 and a 200 day moving average of $12.93. Snap Inc. has a 52 week low of $8.28 and a 52 week high of $17.90. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, research analysts expect that Snap Inc. will post -0.48 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on SNAP shares. Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Snap from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald began coverage on Snap in a research note on Thursday. They issued a “neutral” rating and a $8.00 target price for the company. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Snap currently has a consensus rating of “Hold” and an average target price of $13.87.

Insiders Place Their Bets

In other Snap news, Director Joanna Coles sold 3,950 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.17, for a total transaction of $59,921.50. Following the transaction, the director now owns 46,492 shares in the company, valued at approximately $705,283.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joanna Coles sold 3,950 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $15.17, for a total transaction of $59,921.50. Following the transaction, the director now directly owns 46,492 shares of the company’s stock, valued at approximately $705,283.64. The disclosure for this sale can be found here. Insiders sold 1,356,370 shares of company stock worth $12,151,603 over the last three months. Company insiders own 22.68% of the company’s stock.

Snap Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.